Azerbaijan’s Beylaqan-Pambiq cotton processing enterprise privatized
Azerbaijan, Baku, Dec. 20 / Trend , N.Ismayilova/ Azerbaijan State Committee for State Property Management announced an investment competition to sell 30.34% of stocks of the Beylaqan-Pambiq JSC, the Committee said on Dec. 20.
Individuals and legal entities of Azerbaijan and foreign investors may take part in the competition.
Applicants must submit their investment programs with proposals on improvement of cotton processing and enhancement of cotton sale.
Those willing to take part in the competition have to submit a bank guarantee for 5% of the cost of the investment competitions and the proposals on transfer of AZN 75,000 to the public budget.
Beylaqan-Pambiq, covering 3.85 hectares in the Dashburun settlement in Beylagan region, is engaged in storage, processing and sale of cotton.
Authorized capital of the joint stock company has amounted to AZN 840,690. A total of 420,345 stocks, with face value of AZN 2 each, were issued to this sum. The subject of the competition is 127,520 stocks with total face value of AZN 255,040.
As of Nov.1, enterprise's arrears comprised AZN 70,970. Its debit liabilities totalled AZN 107,500.
Beylaqan-Pambiq employing 66 people was founded in 1983.
Applicants may get familiar with requirements of the competition, privatization plan and may get more information at 20, Y.Safarov, Baku from 10:00 to 17:30 until Jan. 23, 2009. Documents and proposals must be submitted by Jan. 23 from 10:00 to 17:30.
Proposals will be viewed by a competition commission at the State Committee for State Property Management from 10:30 on Jan. 27, 2009.
On Dec. 20, official exchange rate totalled 0.8013 AZN/USD.
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